Credit Union to offer Flood Relief Program
The Vanderbilt University Employees Credit Union has created three new loan products to help employees deal with financial fallout from the flood.
• A “People Helping People” Flood Relief Loan of up to $1,000 with 0 percent interest. The loan will be repaid via payroll deduction of $100 per month for 10 months. The maximum number of these loans offered will be 250, and they will be offered on a first-come-first-served basis.
• The Credit Union will defer one month payment on existing loans
• An Appliance Loan of up to $5,000 for 24 months at 9.9 percent interest will help those whose appliances were ruined in the flood to repurchase those items.
Each of these new loans will be available May 10 through August 31.
To participate in these loans, an employee must be a member of the Credit Union, which can be joined by depositing $25 and paying a one-time fee of 25 cents.
The Credit Union also continues to offer services such as a 3 percent Home Owner Equity Line of Credit (HELOC), a Personal Line of Credit and a Signature Advance Personal Loan.
Details on the program, how to apply, and its restrictions are at http://www.vanderbiltcu.org/ or 936-0300, extension 70269, or at the Vanderbilt Flood website, www.vanderbilt.edu/flood